Valmont Industries, Inc. (NYSE:VMI) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its stake in shares of Valmont Industries, Inc. (NYSE:VMI) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,419 shares of the industrial products company’s stock after selling 210 shares during the quarter. MetLife Investment Management LLC’s holdings in Valmont Industries were worth $3,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VMI. Earnest Partners LLC acquired a new position in shares of Valmont Industries during the 2nd quarter valued at about $91,878,000. Sei Investments Co. increased its stake in shares of Valmont Industries by 794.2% during the 2nd quarter. Sei Investments Co. now owns 198,116 shares of the industrial products company’s stock valued at $54,373,000 after acquiring an additional 175,961 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Valmont Industries by 39.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 258,845 shares of the industrial products company’s stock valued at $71,040,000 after acquiring an additional 73,084 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Valmont Industries by 113.5% during the 2nd quarter. Natixis Advisors LLC now owns 71,620 shares of the industrial products company’s stock valued at $19,656,000 after acquiring an additional 38,080 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in shares of Valmont Industries by 9.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 288,633 shares of the industrial products company’s stock valued at $83,689,000 after acquiring an additional 25,237 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. DA Davidson increased their target price on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their target price on shares of Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th.

Valmont Industries Stock Down 0.6 %

VMI opened at $347.08 on Wednesday. The firm has a 50 day moving average price of $318.83 and a 200 day moving average price of $289.52. The company has a market cap of $6.95 billion, a PE ratio of 23.56 and a beta of 1.03. Valmont Industries, Inc. has a 1 year low of $202.01 and a 1 year high of $354.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.55 and a current ratio of 2.35.

Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.00 by $0.11. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a return on equity of 23.10% and a net margin of 7.38%. Valmont Industries’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.12 EPS. Sell-side analysts expect that Valmont Industries, Inc. will post 16.86 earnings per share for the current year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 27th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, December 27th. Valmont Industries’s dividend payout ratio is presently 16.30%.

Insiders Place Their Bets

In other news, VP R Andrew Massey sold 3,977 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $315.00, for a total transaction of $1,252,755.00. Following the completion of the transaction, the vice president now directly owns 9,408 shares in the company, valued at approximately $2,963,520. This represents a 29.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mogens C. Bay sold 20,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $348.92, for a total value of $6,978,400.00. Following the transaction, the director now owns 131,730 shares of the company’s stock, valued at approximately $45,963,231.60. This trade represents a 13.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,977 shares of company stock worth $13,950,095 in the last 90 days. 1.90% of the stock is owned by company insiders.

About Valmont Industries

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.